2008-99 PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION BONDS

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� . � comply with all representations, covenants and assurances contained in certificates or agreements as may be prepared by Bond Counsel; (c) to consult with Bond Counsel (or, in the case Bond Counsel is unable or unwilling to provide advice, then with another firm having nationally recognized expertise in matters relating to Tax-exempt obligations) and to comply with such advice as may be given; (d) to file such forms, statements and supporting documents as may be required and in a timely manner; and (e) if deemed necessary or advisable by its officers, to employ and pay fiscal agents, financial advisors, attorneys and other persons to assist the City in such compliance. B. ARBITRAGE REBATE. The City further certifies and covenants as follows with respect to the requirements of Section 148(� of the Code, relating to the rebate of "excess arbitrage profits" (the "Rebate Requirement") to the United States: 1. Unless an applicable exception to the Rebate Requirement is available to the City, the City will meet the Rebate Requirement. 2. Relating to applicable exceptions, the City Treasurer or the Mayor is hereby authorized to make such elections under the Code as either such officer shall deem reasonable and in the best interests of the City. If such election may result in a "penalty in lieu of rebate" as provided in the Code, and such penalty is incurred (the "Penalty"), then the City shall pay such Penalty. 3. The officers of the City shall cause to be established, at such time and in such manner as they may deem necessary or appropriate hereunder, a "2008 General Obligation Bonds Rebate [or Penalty, if applicable] Fund" (the "148 Compliance Fund") for the Bonds, and such officers shall further, not less frequently than annually, cause to be transferred to the 148 Compliance Fund the amount determined to be the accrued liability under the Rebate Requirement or Penalty. Said officers shall cause to be paid to -32-